Norris Perne & French LLP MI Buys 29,981 Shares of Gentex Corporation $GNTX

Norris Perne & French LLP MI lifted its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 138.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,599 shares of the auto parts company’s stock after purchasing an additional 29,981 shares during the quarter. Norris Perne & French LLP MI’s holdings in Gentex were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Burgundy Asset Management Ltd. boosted its position in Gentex by 3.1% in the second quarter. Burgundy Asset Management Ltd. now owns 7,964,555 shares of the auto parts company’s stock valued at $175,141,000 after buying an additional 236,346 shares in the last quarter. State Street Corp lifted its stake in shares of Gentex by 1.0% in the 2nd quarter. State Street Corp now owns 7,439,333 shares of the auto parts company’s stock valued at $163,591,000 after acquiring an additional 74,779 shares during the last quarter. Ariel Investments LLC boosted its holdings in shares of Gentex by 3.9% during the 2nd quarter. Ariel Investments LLC now owns 7,359,272 shares of the auto parts company’s stock valued at $161,830,000 after acquiring an additional 277,217 shares in the last quarter. American Century Companies Inc. grew its position in Gentex by 60.5% during the 2nd quarter. American Century Companies Inc. now owns 6,611,258 shares of the auto parts company’s stock worth $145,382,000 after acquiring an additional 2,492,026 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Gentex by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 5,681,405 shares of the auto parts company’s stock worth $124,948,000 after purchasing an additional 20,795 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Stock Performance

Gentex stock opened at $23.47 on Monday. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 13.81 and a beta of 0.78. Gentex Corporation has a 52-week low of $20.28 and a 52-week high of $29.52. The firm has a 50 day moving average price of $23.46 and a two-hundred day moving average price of $25.02.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, October 24th. The auto parts company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Gentex had a net margin of 15.61% and a return on equity of 15.86%. The firm had revenue of $570.32 million during the quarter, compared to the consensus estimate of $661.10 million. During the same period in the prior year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities research analysts predict that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Wednesday, January 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, January 7th. Gentex’s dividend payout ratio (DPR) is presently 28.24%.

Analyst Ratings Changes

A number of brokerages have recently commented on GNTX. Robert W. Baird set a $29.00 price target on Gentex in a research note on Monday, October 27th. The Goldman Sachs Group set a $27.00 target price on shares of Gentex and gave the stock a “neutral” rating in a report on Monday, October 27th. UBS Group restated a “neutral” rating and issued a $29.00 price target (up from $28.00) on shares of Gentex in a research report on Monday, October 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a report on Wednesday, October 8th. Finally, Zacks Research cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Gentex presently has a consensus rating of “Hold” and an average price target of $28.29.

Gentex Company Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).